Massy Holdings says it has initiated a disciplinary process to review the conduct of executive vice president Angelique Parisot-Potter at the company’s recent Annual meeting.

In a statement published in the print media, Massy said the disciplinary process would weigh Ms Parisot-Potter’s conduct “against her duties as the General Counsel to the Company”.

It adds that it will follow due process to determine “how this should be handled responsibly yet decisively.”

At the meeting, Ms Parisot-Potter allegedly claimed that scarce foreign exchange was being spent on an executive management programme in Florida that included “bizarre rituals” and “highly dubious activities”.

Massy categorically denied the claims, referring to them as “patently untrue and scandalous”.

It adds however that Ms Parisot-Potter did submit a 13-page document of allegations and concerns on November 26th, and says an independent process has been initiated with regard to this.